Economy Concerns May Force Hyundai To Bail On Super Bowl Ads
Hyundai, which purchased two 30-second ad slots on Fox' coverage of Super Bowl XLII, is "considering pulling out of its ad commitment because of concerns about the economy," according to the WALL STREET JOURNAL. Hyundai's U.S. unit purchased the ad time in '07 "when economic conditions weren't as gloomy," but the company now "is worried that taking out high-priced ads in this environment might rub some consumers the wrong way." Hyundai indicated that if it does pull out, "it won't take the money back but will reinvest it in television ad time for a different show." But if Hyundai wants to pull out and Fox "is unable to sell the ad space, Hyundai will have to air its ads." However, "given the high demand for ad time, Fox would likely be able to sell the slots at an even higher price" (WALL STREET JOURNAL, 1/16). Hyundai VP/Corporate Communications Chris Hosford: "A lot of economic indicators clearly show the economy is slowing. Is this [advertising on the Super Bowl] the best thing to do with our advertising funds in the first quarter?" (AUTONEWS.com, 11/15).
JETER'S NERVOUS: Yankees SS Derek Jeter appeared on FSN’s “BDSSP” last night where he talked about filming a Super Bowl commercial for Gatorade’s new G2 drink. Jeter: “It’s a Super Bowl commercial coming out, so I’m a little bit nervous about that” (“BDSSP,” FSN, 1/15).
PRICES GOING NORTH: One ad buyer indicated that in Canada, a 30-second Super Bowl spot on CTV is selling for between C$100,000-110,000 this year, up from last year when the comparable spots sold for "slightly less" than $100,000 on Global (Toronto GLOBE & MAIL, 1/16).
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